Friday, April 10, 2015

Buffexit

The most dangerous comment regarding the future of Greece’s economy was
uttered by legendary American investor Warren Buffett 10 days ago. “If
it turns out the Greeks leave, that may not be a bad thing for the
euro,” he said. “If everybody learns that the rules mean something and
if they come to general agreement about fiscal policy among members or
something of the sort, they mean business, that could be a good thing,”
he added, speaking to television network CNBC.

Sink, or swim?

Prime Minister Alexis Tsipras declared in Moscow on Wednesday that the
Greeks are “co-owners” of the ship called Europe, and equal to the other
passengers, implying that there is no danger of Greece finding itself
overboard.

But some say, don't let the porthole hit you on your way out;

Yesterday, Jamie Dimon, CEO of JPMorgan Chase,
America’s largest bank by assets, was quoted as writing to shareholders
that the bank needs to prepare for the possibility of Greece leaving the
euro. After a period of “initial turmoil” this might even benefit the
euro, he noted, because it would “prompt greater structural reform
efforts by countries that remain.”